Parliament: Order Of Business For April 13th

April 12, 2018 | 6 Comments

The House of Assembly is scheduled to be in session on Friday [April 13] and Bills on the Order Paper include the Appropriation Amendment Act 2018, Companies Amendment Act 2018, and the Companies and Limited Liability Company [Initial Coin Offering] Amendment Act 2018.

Bermuda House of Assembly generic 332

Speaking last month, Premier David Burt said, “Bermuda has an opportunity to become a global leader in the Fintech space by being one of the first countries in the world to specifically regulate ICOs. The proposed regulatory framework will provide legal certainty to companies looking to conduct ICOs in Bermuda.

“As such, the Government will soon circulate for consultation a draft Bill containing proposed amendments to the Companies Act 1981 and the Limited Liability Company Act 2016 which will govern the conduct of ICOs in Bermuda.

“Under the proposed Bill, an ICO will be treated as a restricted business activity that will require consent from the Minister of Finance.

“The draft Bill includes minimum requirements that will be applicable to all ICOs. This includes mandatory disclosures of certain information related to the company, the digital asset being offered for sale and the rights of the purchaser to assist the public in making informed decisions about participating in any proposed ICO.

“To the extent that other laws govern the rights or features of a digital asset offered through an ICO, those laws will continue to apply and be enforceable. This includes securities laws.”

The Order of Business follows below [PDF here]:

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Comments (6)

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  1. Kim Smith says:

    Having this information about the Order of Business for the House of Assembly is really useful… thank you Bernews.

  2. shrew says:

    WHY are they still saying prayers in a govt facility in 2018? SEPERATE CHURCH AND STATE PEOPLE!

    • sandgrownan says:

      Do you really want me to answer that?

    • Stevie says:

      Totally agree with you.

    • Paz says:

      I completely agree.

      Many governments in diverse societies recognize how divisive it is to choose one religion to effective represent the country. They make changes to limit the exclusion. Most Bermudians don’t seem to understand what the issue is.

  3. The Original Truth™ says:

    That’s what the government calls regulations?

    PLP wants to turn Bermudians into a bunch of bagholders.

    If PLP wants Bermudians to gamble then open the casinos already. At least they’re less of a risk than gambling on an ico.

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